BCBS 239 - Principles of Effective Risk Data Aggregation and Risk Reporting

Why Should You Attend:

In January 2015, the Basel Committee published the second progress report on banks' adoption of BCBS 239. Fourteen of the 31 participating banks reported that they would be unable to fully comply with the Principles by the 2016 deadline.

Although initially directed at Global Systemically Important Banks (G-SIB), the Committee believes that the Principles can be applied to a wider range of banks in a way that reflects their size, nature and complexity. Adherence to these principles became mandatory for the affected banks on January 1, 2016. At their discretion, however, national regulators may apply the spirit of the Principles to a wider range of institutions. Notwithstanding any compliance requirements, all financial services companies should consider implementing these principles as they represent best practices in the area of risk aggregation and reporting.

This webinar will discuss the best practices for BCBS 239 compliance, effective risk data aggregation and risk reporting.

Areas Covered in the Webinar:

• Understand the background and introduction of BCBS 239
• Overarching governance and infrastructure
• Risk data aggregation capabilities
• Risk reporting practices
• Supervisory review, tools and cooperation
• Implementation timeline and transitional arrangements
• Long term implications.
• Steps to ensure risk data aggregation capabilities and risk reporting practices are subject to strong governance.
• How to enhance the infrastructure for reporting key information, particularly that used by the board and senior management to identify, monitor and manage risks;
• Improve decision-making process & MI timeliness
• How to enhance the management of information across legal entities, while facilitating a comprehensive assessment of risk exposures at the global consolidated level;
• How to reduce the probability and severity of losses resulting from risk-management weaknesses;
• Understand how to Improve the speed at which information is available and hence decisions can be made; and
• How to improve the organization's quality of strategic planning and the ability to manage the risk of new products and services.

Who Will Benefit:

• Risk Officers
• Compliance Officers
• Internal and External Auditors
• Financial Controllers
• Operations Managers
• Information Technology Managers

Instructor Profile:

Mario Mosse has over 40 years of experience in operational risk management, internal audit and regulatory compliance at financial services companies. He is the president of MMosse Consulting, LLC, where he provides risk management advice and training to the financial services industry. Previously, he was the head of operational risk management at Prudential Financial, Inc. Prior to joining Prudential, Mr. Mosse was with The Chase Manhattan Bank, where he held several senior positions in internal audit and risk management.

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